Mixi Australia has announced an extension to its off-market takeover bid for PointsBet, moving the offer deadline to August 29. The company is actively seeking to increase its stake in the Australian online wagering operator. PointsBet provides sports and racing betting platforms, as well as iGaming services, to customers in Australia, the United States, Canada and Europe.
Alongside the extension, Mixi Australia flagged a potential increase in its cash offer for PointsBet shares. The offer could rise from $1.25 to $1.30 per share. However, this increase is conditional on Mixi acquiring at least 90 per cent of PointsBet’s shares. Reaching this threshold would grant Mixi the right to compulsorily acquire the remaining shares in the company.
Mixi Australia has confirmed that shareholders who have already accepted the current offer will also be eligible for the increased price of $1.30 per share, provided the 90 per cent ownership threshold is met. This ensures that early acceptors are not disadvantaged by the revised offer terms.
In a statement, Mixi Australia clarified that this price increase is final. The company does not anticipate further extensions to the offer period, except where legally required under the Corporations Act. This provides a clear timeline for PointsBet shareholders considering the offer.
